Holding, causing damage to both companies. Additionally, Mr. Somchai, authorized to sign for money withdrawal on behalf of the company, misappropriated B30 million which had disappeared from SECC Holding’s

. Within 9 months the competitors gradually disappeared and the company gained 50% market share. In the part of mobile top-up market share, the company gained it from several channels especially ROM. As a

manufacturing activities of the major industries that disappeared during the epidemic situation and lockdown, with the sales of the automotive slump and with its higher margin product, being the most affected by

gross-of-fee level, it disappeared at net-of-fee level. • Jensen (1968) reaches conclusion that average actively managed mutual fund does not capture alpha, net of fees and expenses. • Chang and Lewellen

deduced that these shortcomings are caused by two major factors: the shortage of qualified audit personnel and the inability to react to changes of professional standards. This shortage of human resources